<?xml encoding="utf-8" ?????????>Despite mounting pressure from the automotive industry, the latest Budget failed to incorporate a proposed 50% reduction in VAT for electric cars, leaving many disappointed.This measure, if implemented, could have significantly lowered the purchase price of electric vehicles (EVs), thereby fostering greater accessibility
A SELLER waits for customers at the Paco Public Market in Manila, Feb. 1, 2024. — PHILIPPINE STAR/ EDD GUMBAN By Beatriz Marie D. Cruz, ReporterTHE PHILIPPINE central bank governor on Wednesday said it is too early to cut benchmark interest rates absent an assurance
A loader dumps sand into a magnetized black sand mining equipment along the shoreline of San Vicente, Ilocos Sur in northern Philippines, May 6, 2013. — REUTERSBy Aaron Michael C. Sy, ReporterTHE FINANCE department is proposing a simplified fiscal regime for the Philippine mining industry
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<?xml encoding="utf-8" ?????????>Pharmaceutical giant AstraZeneca has announced its ambitious plans to inject £650 million into the UK, a move set to fortify the nation’s already prominent Life Sciences industry and bolster economic growth.This substantial investment is poised to not only enhance public health protection but
A SPECIAL flag-raising ceremony is held at Rizal Park in celebration of International Women’s Month, Feb. 4, 2024. — PHILIPPINE STAR/EDD GUMBANTHE JAPAN Credit Rating Agency (JCR) affirmed on Wednesday the Philippines’ credit rating at “A-” with a “stable” outlook, as it expects the government
BW FILE PHOTOINCONSISTENCY in local government rules may drive away investors in the information technology and business process management (IT-BPM) sector, an industry group said.IT and Business Process Association of the Philippines (IBPAP) President Jack Madrid said investors are still facing constraints, particularly at the
MANILA ELECTRIC Co. (Meralco) is expecting a decrease in power cost from suppliers this month, the company’s spokesman said on Wednesday.“While we have yet to receive all the billings from our suppliers, initial indications show lower generation charge this March,” Joe R. Zaldarriaga, Meralco spokesperson
DMCI Holdings, Inc. announced on Wednesday a 20% decrease in its 2023 consolidated net income to P24.9 billion, mainly due to the normalizing prices of utilities.Consolidated revenues dropped by 14% to P122.8 billion in 2023 from P142.6 billion the previous year, led by stabilizing coal,
SAN MIGUEL Food and Beverage, Inc. (SMFB) saw a 10% increase in its 2023 net income to P38.1 billion, driven by stronger sales, the Ang-led company announced on Wednesday. SMFB’s consolidated sales improved by 6% to P379.8 billion on better volumes and pricing strategies, the company
LISTED conglomerate PHINMA Corp. saw a 6.5% increase in its 2023 net income to P1.63 billion from P1.53 billion the prior year due to higher revenues across its business units.In a regulatory filing on Wednesday, PHINMA Corp. said its consolidated revenues rose by 20% to
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